Raffles Town Club site slated for future residential use after lease expiry in 2026
In its claim, SLA and URA state the redevelopment of the area for residence usage will “sustain future housing appeal and boost the housing character of the development”.
The site, which evaluates an estimated 132,639 sq ft, is located at 1 Plymouth Avenue in District 11. It is inside walking distance of the Stevens MRT Interchange. RTC is going to continue its proceedings at the place up until the rent ends, upon which it will certainly be called for to send back the land to the land.
Lee Sze Teck, senior supervisor for information analytics at Huttons Asia, thinks the plot, that lies throughout a reserved residence enclave, will certainly be brought personal real estate. He predicts the site might be referred a plot ratio of 1.4 given its nearby low-rise property developments. To that extent, it could possibly be developed into a high-end project with 160 to 190 units with a standard unit dimension extending from 915 to 1,076 sq ft. If the spot started for tender today, it could draw a winning quote of over $1,500 psf per plot ratio, he determines.
The rent on a plot of property in Bukit Timah presently taken up by Raffles Town Club (RTC) are going to not be resumed the moment it lapses on Oct 17, 2026. In a Nov 20 report, the Singapore Land Authority (SLA) and URA collectively announced that the area is schedule for future non commercial development.
Eugene Lim, major executive officer at ERA Singapore, feels that the area may be given a bigger plot ratio provided its area at the section of Whitley Road and Dunearn Road. “There is a possibility of a higher plot ratio being enabled on the site, like 1.6 or 2.1, such that a taller property may be constructed there to function as a landmark for the crossway.”
The location lies barely a five-minute drive from the Singapore Botanic Gardens. It is even close to academic institutions consisting of Singapore Chinese Girls’ School, Nanyang Primary School and St Joseph’s Institution.